Link to Imagecache files doesn't work

Hey. First of all, awesome module. Thanks for all your work.

And I just remembered that I had the source code the whole time. If i'd realised yesterday I could have saved myself some confusion.
If I knew php I might try and have a crack at it, but I don't.

Regarding this block:
// Calculate relative path.
$path = (variable_get('file_downloads', FILE_DOWNLOADS_PUBLIC) == FILE_DOWNLOADS_PUBLIC) ? '' : '../../';
.....
.....

When using imagecache to display my images, the ../../../ gives the URL:

[DOMAIN]/sites/example.com/files/imagecache/medium_cropped/../../../event-pics/name-of-this-test-event-gallery_117.jpg

which leads to a link of:

[DOMAIN]/sites/example.com/event-pics/name-of-this-test-event-gallery_117.jpg

instead of:

[DOMAIN]/event-pics/name-of-this-test-event-gallery_117.jpg

The non imagecache files work fine. FileField Paths store it in the correct location, and the alias is displayed correctly.
Imagecache files aren't being created either. When I upload an image, it will display a preview pic that uses an imagecache preset. That works but it doesn't reference the alias.
After that, no imagecache files are created on the server when they try to use the alias.

I find it odd that I'm the only one that appears to have had this, so maybe I missed something. Any advice?

If you're curious
At the moment I'm using
File Aliases 6.x-1.1
FileField Paths 6.x-1.4
ImageCache 6.x-2.0-beta10

The current FileField Path and Alias settings are :

File Path : event-pics/[field_date-yyyy]/[field_associated_event-title]
File Name : [field_images-filefield-fid].[filefield-extension-original]
File Alias : event-pics/[field_associated_event-title]_[field_images-filefield-fid].[filefield-extension-original]